You have been assigned the task of using the corporate, or free cash flow, model to estimate Beranek Inc.'s intrinsic value.The firm's WACC is 7%, its end-of-year free cash flow (FCF₁) is expected to be $55 million, and the FCFs are expected to grow at a 12% rate for each of the next two years (t = 2 and 3).After t = 3, the free cash flows are expected to grow forever at a constant rate of 3% per year.The firm has zero nonoperating assets.The company has $211.71 million in long-term debt, no preferred stock, and it has 50 million shares of common stock outstanding.What is the firm's estimated intrinsic value per share of common stock?Note that the cash flows occur at the end of the year.